Sydney-based Cloudwerx raises $7 million in CVC led funding round

IT consulting firm Cloudwerx has announced that they have raised a $7 million investment in a recent funding round. Participating investors include CVC Group’s Emerging Companies Fund, which focuses on upstart Australian companies. 

CVC portfolio manager Jonathan Pearce said, “We were immediately attracted to the quality of the management team at Cloudwerx. Core to our investment thesis are the founders who operate the business and Cloudwerx have an all-star team.”

CVC also said in a statement that the investment was the first external capital that Cloudwerx received since it was founded in 2018.

The Sydney-based IT company was founded by Roger Burgess and Miha Remec and is currently led by chief executive Toby Wilcock and CTO Chris Baldock.

Cloudwerx co-founder and Chairman Roger Burgess said,”  The company’s strategy is to partner with strategic businesses who recognise the value of their offering. Our unique approach to design and delivery of Salesforce consulting services is helping our customers transform manual and highly repetitive processes,” 

Post the funding, the company is anticipating a turnover between $15 to $20 million this financial year and said it has been growing at more than 100 percent per annum since inception.

Cloudwerx CEO Toby Wilcock said, “Customers are demanding high quality players and innovative solutions. Our nimble and agile approach allows us to compete and win market share from the larger global service integrators.”